HES Price Prediction Next Week
Hess Corporation (HES) Stock Price Prediction and Recommendation
News Analysis:
- Chevron's Acquisition Attempt: Chevron is currently in the process of acquiring Hess for $53 billion, but the deal is stalled due to a legal dispute with ExxonMobil over Hess's valuable assets in Guyana. This uncertainty could impact Hess's stock price in the short term.
- Industry Challenges: The oil-and-gas industry faces challenges such as increased drilling costs due to steel tariffs and regulatory changes, which could negatively impact profitability.
Technical Indicators:
- RSI: Hess's Relative Strength Index (RSI) is at 66.39, indicating the stock is in a neutral zone and not overbought.
- MACD: The MACD line is above the signal line, suggesting bullish momentum.
- Fibonacci Levels: Key resistance levels are at $156.01 and $159.60, while support levels are at $144.37 and $140.77.
- Price Action: The stock is currently trading at $157, with a recent high of $157 and a low of $155.4.
Price Prediction:
Based on the current technical indicators and news sentiment, Hess's stock is expected to trade between $155 and $159 in the next trading week.
Recommendation:
Sell Hess stock at the current price of $157, as the stock is approaching a strong resistance level at $156.01. Consider repurchasing if the stock pulls back to the support level of $144.37.
HES Similar Chart Price Prediction
The price of HES is predicted to go up 6.27%, based on the high correlation periods with UVE. The similarity of these two price pattern on the periods is 96.71%.
HES
UVE
Up: 6.27%Similarity: 96.71%
HES Revenue Forecast
HES EPS Forecast
HES FAQs
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HES VS S&P500
The Stabroek block (Guyana), in which Hess has a 30% stake, is a huge resource, with at least 11 billion barrels of oil equivalent recoverable. It will account for 2% of global oil supply by 2030.
Due to the scale of prize and supported by favorable fiscal terms, Guyana supply costs are well below the global margin cost threshold and competitive with the best shale resources.
Hess' activity in Guyana provides geographic diversification and insulates it from domestic issues (like infrastructure constraints or the threat of antifracking regulations).
HES Analyst's Forecast
Roger Read
Wells Fargo
Hold → Buy
2024-12-09
Price Target
$151 → $193
Upside
+35.49%
Wells Fargo analyst Roger Read upgraded Hess Corp. (HES) to Overweight from Equal Weight with a price target of $193, up from $151. The firm says Shell (SHEL) and Hess are its 2025 top picks within exploration and production. Despite a lackluster oil price forecast, Wells expects the oil and gas sector will deliver positive returns in 2025 via spending discipline, the analyst tells investors in a research note. For Hess, the firm sees two distinct paths to value. First, the merger with Chevron (CVX) closes, and second, the merger doesn't happen and Hess reverts to an independent company valued off its "unique" Guyana asset.
Scott Gruber
Citigroup
Hold
2024-12-06
Price Target
$145 → $163
Upside
+15.17%
Biju Perincheril
Susquehanna
Hold
2024-10-18
Price Target
$149 → $154
Upside
+10.46%
